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Regis posts record output as it opens new decline

Image shows molten gold

Photo by Bloomberg

7th July 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Regis Resources has celebrated record yearly gold production for the full year ended June, while officially opening the Balkau decline at its Garden Well South underground mine, in Western Australia.

The miner on Friday reported that gold production for the 2023 financial year had reached 458 354 oz, with the Duketon operation delivering 327 300 oz and the Tropicana operation 131 100 oz.

In the June quarter, group production amounted to 122 479 oz, with Duketon delivering 90 600 oz and Tropicana 31 900 oz.

“We are very pleased to deliver a record year of gold production for 2023. Most notably, the June quarter saw our operations drive a cash and bullion build of A$39-million,” said MD and CEO Jim Beyer on Friday.

“With commercial production declared at both Garden Well underground at Duketon and Havana openpit at Tropicana, we have commenced the journey from investment phase to having two cash generating pillars that can be used to help fund our growth project, McPhillamys, once approved.”

Regis is expected to deliver its full quarter results later this quarter.

Meanwhile, the miner on Friday officially opened the Balkau decline, named after Regis GM of exploration Jens Balkau, who passed away in 2021.

Garden Well South underground is an underground extension of the Garden Well openpit mine, which is a key production source at Regis’ Duketon gold project. The original Garden Well deposit was discovered as a “blind deposit” by the Regis exploration team led by Balkau.

“The official naming of the Balkau decline reflects this positive evolution for the Garden Well operation, so it is fitting we name it after the man who led the initial discovery of Garden Well,” Beyer said.

“Balkau was a much-loved and valued colleague, friend, and mentor to many at Regis. He led the exploration team for over a decade with enthusiasm and an abundant willingness to nurture the next generation of geologists.

“Balkau is deeply missed, but his legacy will always be remembered at Regis.”

Edited by Creamer Media Reporter

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